Real Per Capita Personal Income in Illinois
ILOI96 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60,575.15
Year-over-Year Change
3.03%
Date Range
1/1/2010 - 1/1/2025
Summary
Real Per Capita Personal Income in Illinois measures the average inflation-adjusted income per person in the state. It provides insight into economic well-being and consumer purchasing power.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This indicator tracks the total personal income of Illinois residents, adjusted for inflation and divided by the state's population. It is a key metric for evaluating Illinois' economic performance and the standard of living for its citizens.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis using personal income and population estimates.
Historical Context
Policymakers and analysts use this trend to assess Illinois' economic health and make informed decisions.
Key Facts
- Illinois' real per capita personal income was $58,392 in 2021.
- This represents a 3.5% increase from the previous year.
- The U.S. national average real per capita personal income was $63,444 in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average inflation-adjusted personal income per person in the state of Illinois. It provides insight into the economic well-being and purchasing power of Illinois residents.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for evaluating Illinois' economic performance and the standard of living for its citizens. Policymakers and analysts use it to make informed decisions about the state's economic health and policies.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis using personal income and population estimates for the state of Illinois.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess Illinois' economic health and make informed decisions about policies that impact personal income, consumer spending, and the overall standard of living in the state.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be a delay of several months between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income in Illinois (ILOI96), retrieved from FRED.